Are You E.I. Eligible? - Self Employment Assistance Program
Metro Business Opportunities Corporation (MBO) administers Self Employment (SE), a provincial government initiative sponsored by Human Resources, Labour & Employment (HRL&E). SE is a tool which will help individuals create jobs for themselves through self-employment, by providing them with assistance in the form of coaching, ongoing business advice and financial support for a maximum period of 52 weeks.
In order to qualify for the Self Employment program an individual must be in current receipt of E.I. or eligible for E.I. within the last three years. In addition, HRL&E now require interested individuals of the Self Employment program to complete a Return-to-Work Action Plan through the Y-Enterprise Centre prior to making an application at MBO.
What Financial Assistance Will You Receive?
If you are receiving or eligible to receive E.I. Benefits, you will continue to receive these benefits until your claim ends or such a time when you are approved for Self Employment Assistance program. You may also be eligible for child care benefits if you have received maternity or parental benefits in the last five years.
What Services Are Offered By MBO?
- Counseling The staff of MBO can provide ongoing management advice throughout the SE period on business-related issues.
- Business Plan Guidance The staff of MBO is available for guidance and feedback on business plans.
- Business Training Approved SE participants will receive general business training through seminars and individual counseling in areas such as bookkeeping, marketing, and taxation.
- Monitoring MBO monitors the business on a regular basis during the funding period through monthly reports and site visits. This is mandatory; that is, all participants are required to accurately complete and submit monthly monitoring reports. This process helps to identify potential problems and to seek solutions.
How Do You Qualify For Self Employment Assistance?
In order to qualify for Self Employment Assistance, ALL of the following eligibility criteria must be met either as the applicant or the business.
Applicants must:
- Complete a Return to Work Action Plan at the Y-Enterprise - NEW
- Receive a certificate of eligibility from HRL&E
- 10 Week Concept Application
- Contribute equity to be directly used for business purposes
- Be legally entitled to work in Canada as defined by HRL&E
- Develop and business plan establishing the long term financial viability
- Have had no previous ownership in the business
- Agree to work full-time in the business while receiving SE funding
- In case of partnership, confirm that you are majority owner in the business
Business must:
- Be located in St. John's - Mount Pearl area
- Not be a subsidiary of, or financially supported by another company, nor can the major revenue source be through commissions
- Be suitable for public funding and not exploit sex, religion, or politics
- Not compete with similar operations in the area
- Be fully operational within 10 weeks of approval
- Have all necessary permits and licenses in place and financing secured
- Not become operational until official notification has been granted by Human Resources, Labour and Employment
SELF EMPLOYMENT ASSISTANCE IS SUBJECT TO THE AVAILABILITY OF GOVERNMENT FUNDING AND MAY BE CANCELLED AT ANY TIME
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